GrubHub Inc (NASDAQ:GRUB) was upgraded by investment analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $46.00 target price on the stock, up from their prior target price of $40.00. Bank of America Corp.’s target price points to a potential upside of 10.68% from the stock’s current price.
Other research analysts have also issued reports about the stock. JMP Securities upped their target price on shares of GrubHub from $35.00 to $45.00 and gave the company a “market outperform” rating in a report on Friday, July 29th. Zacks Investment Research lowered shares of GrubHub from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Barclays PLC upped their target price on shares of GrubHub from $28.00 to $38.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Mizuho restated a “buy” rating and issued a $33.00 target price on shares of GrubHub in a report on Wednesday, July 27th. Finally, Wedbush reiterated an “outperform” rating and set a $47.00 price objective (up from $40.00) on shares of GrubHub in a report on Thursday, July 28th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.13.
Shares of GrubHub (NASDAQ:GRUB) opened at 41.56 on Thursday. The firm has a market capitalization of $3.54 billion and a PE ratio of 86.58. The stock has a 50 day moving average price of $41.46 and a 200-day moving average price of $32.38. GrubHub has a 52-week low of $17.77 and a 52-week high of $44.58.
GrubHub (NASDAQ:GRUB) last released its earnings results on Thursday, July 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. The firm earned $120.20 million during the quarter, compared to analysts’ expectations of $114.13 million. GrubHub’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter last year, the company posted $0.17 earnings per share. Equities analysts forecast that GrubHub will post $0.84 EPS for the current year.
In other GrubHub news, CEO Matthew M. Maloney sold 700 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $40.00, for a total value of $28,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew M. Maloney sold 92,666 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $38.34, for a total transaction of $3,552,814.44. Following the completion of the sale, the chief executive officer now directly owns 1,649 shares of the company’s stock, valued at approximately $63,222.66. The disclosure for this sale can be found here.
A number of hedge funds have recently modified their holdings of GRUB. TIAA CREF Investment Management LLC increased its stake in shares of GrubHub by 16.2% in the first quarter. TIAA CREF Investment Management LLC now owns 1,558,304 shares of the company’s stock valued at $39,160,000 after buying an additional 217,357 shares during the period. BlackRock Inc. increased its stake in shares of GrubHub by 133.5% in the first quarter. BlackRock Inc. now owns 4,927 shares of the company’s stock valued at $124,000 after buying an additional 2,817 shares during the period. BlackRock Group LTD increased its stake in shares of GrubHub by 28.2% in the first quarter. BlackRock Group LTD now owns 38,003 shares of the company’s stock valued at $956,000 after buying an additional 8,357 shares during the period. JPMorgan Chase & Co. increased its stake in shares of GrubHub by 7.7% in the first quarter. JPMorgan Chase & Co. now owns 2,118,953 shares of the company’s stock valued at $53,250,000 after buying an additional 151,844 shares during the period. Finally, BNP Paribas Arbitrage SA purchased a new stake in shares of GrubHub during the second quarter valued at about $213,000.
Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.
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